Measurement Subs Flashcards
You say you are aware of the different methods of measurement, could you tell me what those are?
- Trundle wheel - measuring land
- Lasers
- Tape
- Rod
- Promap / Edozo you can measure the building
What are the problems with using lasers?
They are generally accurate within 1.5mm - 200m but:
- Bright sunlight may distort figures
- Need to be calibrated regularly
What basis of measurements are there and where can they be found?
GEA, GIA, NIA - Found in the Code of Measuring Practice 2015 (GUIDANCE NOTE)
IPMS
GLOBAL PS RICS PROPERTY MEASUREMENT 2018
When would you use GEA?
GEA is when you are measuring the Area of a Building including THE THICKNESS OF EXTERNAL WALL
Includes - the thickness of the external wall
- columns
Excluded - canopies
- parking
Use for Rating and PLanning
What is GIA and when would you use it?
GIA is measured to the internal face of the perimeter wall
Includes: - Columns
- Stairwells
- Garages
- WCs
Excludes: - Canopies
- External balconies
- Thickness of perimeter walls
Used for measuring Industrial Units / Retail Warehouse
What is NIA and when would you use it?
Measuring the Net Internal Area of the property to the internal face of the perimeter wall.
Includes: - Kitchens
- Atria
- Ramps
- Non structural walls
Excludes: - WCs
- Stairwells
- Permanent circulation areas
- Columns
- Plant rooms
- Areas under 1.5m
Used for retail and offices on a dual basis.
What is the purpose of the RICS PS Property Measurement 2018
AIM:
- CONSISTENCY - To provide consistency for property measurement across the world.
- TRANSPARENCY
EFFECTIVE MAY 2018
What are the general principles set out in the RICS PS Property Measurement 2018?
- DATE your measurements
- MEASURING METHODOLOGY ADOPTED
- CONVERSION FACTOR
- CLEARLY DOCUMENTED
- RETAIN RECORDS
- MUST DOCUMENT YOUR REASON FOR NOT USING IPMS
- MEMBERS REPORT ON A DUAL BASIS - until IPMS is embedded in market.
- At present - MEMBERS MUST ADVISE CLIENTS ON THE BENEFITS OF IPMS
What are the benefits of IPMS?
- Increased TRANSPARENCY of property data.
- CONSISTENT language for the property world.
- Easier property portfolio BENCHMARKING.
- Greater CREDIBILITY for valuation professionals world-wide (www.ipmsc.org)
What are the definitions of IPMS?
IPMS 1 - Offices - Planning or building cost (GEA)
IPMS 2 - Offices - Agency & Valuation purposes (GIA)
IPMS 3 - Agency & Valuation Purposes (NIA)
What does IPMS 1 state?
Measure building including EXTERNAL WALLS
Included - covered galleries
(stated sep) - Balconies
Excludes: - External stairwells
- Patios, refuse areas.
What does IPMS 2 state?
Measure whole building TO INTERNAL DOMINANT FACE
IDF: the inside finished surface area comprising of 50% or more of Floor to Ceiling height.
Included - covered galleries and balconies
(stated sep)
Excludes: - External stairwells
- Patios, refuse areas.
What does IPMS 3 state?
Measure part of building in EXCLUSIVE USE to the INTERNAL DOMINANT FACE
IDF - the inside finished surface area comprising of 50% or more of floor to ceiling height.
includes: columns, internal walls!!, areas under 1.5m
Included but stated separately - covered galleries and balconies and roof terraces
Excluded: Shared common facilities eg. WCs, lifts, stairs.
You mention you measured an industrial unit in Wapping on a GIA basis, what did you include and not include?
GIA is measured to the internal face of the perimeter wall
Includes: - Stairwells
- WCs
Excludes: - Thickness of perimeter walls
Was there a mezzanine? If there was would you have included this in your measurement?
Yes if it was permanent
What else did you measure?
Industrial Unit Wapping
Site Cover 80%
Eaves height of 5m
What is the institutional specification for industrial buildings?
- Steal Portal Frame
- Insulated steel profiled cladding walls and roof
- 8m Clear eaves height
- Full Height Loading Doors
- Approx Site cover 40%
- 5-10 % office content
- Plastic coated Steal Cladding
What was your MR for your industrial building in Wapping?
What yield did you adopt?
£10
6%
What was the measurement of the site?
10,000 sf
What were lease terms for industrial properties in the area?
5 -10 years
How long was left on the lease?
5 years
Describe the industrial unit in Wapping
- 5.4 Eaves Height
- Steel Portal Frame
- Profile metal Cladding
- Pitched metal clad roof
- Warehouse floor - concrete construction
- 5 car parking spaces
- WCs
- Recently refurbished
How did you measure site cover?
Using promap and walking the boundary do see when on site where the building and boundary ends
What are the differences between NIA and IPMS 3?
- IPMS 3 is measured to the Internal Dominant Face, rather than the inside finished surface.
- IPMS3 - includes measurements under 1.5m
- IPMS - includes columns
- IPMS - areas taken to mid point of partition wall between occupiers
- IPMS - Covered galleries and balconies are included and stated separately.
For your retail unit in Portsmouth for rent review purposes you measured the unit on an NIA basis, What did you include and exclude?
Measuring the Net Internal Area of the property to the internal face of the perimeter wall.
Includes: - Kitchens
- Atria
- Ramps
- Non structural walls
Excludes: - WCs
- Stairwells
- Permanent circulation areas
- Columns
- Plant rooms
- Areas under 1.5m
Used for retail and offices on a dual basis.
If it was for rent review purposes, did you include fitout by the tenant
How did you get around the tenants fit out?
No as it was disregarded in the lease.
There was a gap behind the tenants fit out and I also cross-checked the measurements upstairs.
You mentioned you zoned the retail property in Portsmouth, What is Zoning?
Zoning is encompassed by the halving back principle.
The further you go back the less valuable the space is.
I used zone depths of 6.1m and applied that to the shop in Portsmouth.
I used A/1 Zone A
A/2 Zone B
A/4 Zone C
A/10 Remainder
I adopted A/20 for the first floor.
What was your ITZA compared to your overall Sq ft
ITZA = 800 sq ft
Overall = 1,800 sq ft
What did you take into consideration on inspection of your retail unit in Portsmouth?
- Retail Pitch
- Condition
- Frontage
What are Zone A rates in Portsmouth?
£120 psf ZONE A
Describe the Retail Unit in Portsmouth
- Solid brick wall construction
- Frontage
- Good position on the high street
- Ground floor and first floor (offices above)
- Beneath residential and a pitched roof
- Good condition
What other deductions did you deduct for your retail unit in Portsmouth?
- Permanent circulation areas
- 1.5 m
- Plant rooms
What would did you exclude?
- outdoor stairwells
If there was a frontage on the side of the street too what would you do?
- Increase rent by a percentage as exposure could be very beneficial
- Zone from the other frontage as well
Do you have to measure IPMS?
YES but IF CLIENT WANTS TO REPORT on NIA then must put BENEFITS !!
- Consistency
Why do the RICS make you keep records of IPMS?
Having measurements in reports for future
What are the downsides to using laser?
- Areas of high natural light - eg. outside
- Industrial units that are too large - max distance 200m
- Human error
- Make sure they are calibrated
- AY has a policy they are to be sent back every 6 months to the factory.
Where do you measure a shop from?
- The Building Line
- Include frontage
- Front of the unit stops
- Shopping centre – brass strip
Typical scale for a floor plan in a lease?
Typical scale of a lease scale?
- 1:50 / 1:100
- 1:1 – actual size
What are the 2 main documents for measurement?
RICS PS on Property Measurement 2018
RICS Code of Measuring Practice 2015
Why was IPMS Introduced?
- CONSISTENCY
2. TRANSPARENCY
What is the difference between residential and office IPMS 3?
IPMS for residential is a lot more complex.
There is IPMS 1, 2, 3 and then IPMS 3 is divided up into 3 sections.
IPMS 3A, IPMS 3B, IPMS 3C.
I used IPMS 3C for my residential portfolio. This involved measuring the apartments on a room by room basis, measuring to the IDF.
For your industrial unit in Wapping, what did you EXCLUDE?
How would you measure the office in an industrial?
This particular unit did not have the following but I am aware you would exclude:
- External stair wells
- Canopies
- Parking
OFFICE SPACE MEASURED GIA
You mentioned you measured the Eaves height, how high were they?
5m
How did your industrial unit compare to GRADE A office spec?
- It was in good condition
- Steel portal frame construction
- Steel profiled cladding walls and roof
- This did not offer office space which usually Grade A would have 5-10%
- Site cover of 70% rather than 40%
